Enprise Group announces change of directors

Following the recently announced restructure whereby Enprise Group Limited (“ENS”) sold its SAP Business One software business for $0.5 million and proposes to spin off the exciting Datagate Innovations Limited (“Datagate”) business into a separately funded subsidiary (that entities associated with Mr Mark Loveys, Mr Tim Mulcock and Mr Steve Southern have invested in following the recent approval at the Enprise Group’s Special Meeting held on 4th November 2015), several changes to the Enprise Board of Directors are now to occur.

Appointment

Enprise Group is pleased to announce the appointment of Nick Paul as a new independent non-executive director. Nick has extensive sales and sales channel management experience in both the NZ and International markets in which Enprise and its subsidiaries operate. Nick was previously CEO of Leading Edge Communications, Sparks’ largest independent dealer partner.

Resignations

Mr Mark Loveys (former Enprise CEO) and Mr Jens Neiser (Non-executive Director) have today resigned from the Enprise board to focus their energies on Enprise group’s Datagate subsidiary. Mr Loveys is now Datagate’s CEO and Mr Neiser the Chairman of Datagate. With Datagate in the process of closing a substantial venture capital round of financing, on top of the $0.65 million already announced, it was important for the new investors to have confidence in Jens and Mark's focus on this exciting opportunity.

I would personally, and on behalf of all shareholders, like thank them both for their service to Enprise and wish them well in their efforts to make Datagate a world class success. Mark, with Elliot Cooper (the current ENS CEO), has driven the success of Enprise over a long period of time. Elliot and the excellent management team at Enprise will continue Mark’s great work to date.

Enprise Future Focus

Enprise will now focus on its New Zealand and Australian MYOB EXO businesses that we plan to grow substantially both organically and through acquisition. The 2015 acquisition of Global BizPro in New Zealand has been integrated well and it is expected that Enprise will pay the full success based purchase price.

Enprise Group’s substantial investment in its Datagate subsidiary (valued at $1.5 million pre-money for the purposes of the venture capital funding raising) will continue to be an important part of Enprise Group’s future capital growth. Mr Neiser, who remains a substantial investor in Enprise Group, will represent us on the Datagate board.

If you have any queries please do not hesitate to contact me or Elliot Cooper.